The Effectiveness Of Digitalization Components In Industry 4.0 On The Sustainable Development Of Technology-Based Businesses

Abstract

Digitalization in Industry 4.0 and sustainable development have been considered crucial for businesses and industries. Thus, business managers and experts in technology-based organizations should identify influential components for implementing these two concepts and recognizing their correlation. It helps these organizations develop the necessary capabilities and impact on automating and improving business performance. This research intends to identify the digitalization components in Industry 4.0 for the sustainable development of technology-based businesses. This applied research is qualitative in terms of methodology, and
the research components were identified through semi-structured interviews with experts using the 5W1H method. Then, the researchers used a three-stage coding process (open, axial, selective) for data analysis. The results indicated the identification of several components, such as inner and outer organizational (e.g., environmental factors, organizational factors, and barriers), business regeneration (e.g., process transformation, business restoration, and instrument transformation), digital transformation (e.g., technology pressure, market scope, competition, and development), sustainable development (e.g., economic, environmental, and social sustainability), as well as digital transformation, knowledge, intelligent decision-making factors (e.g., innovation, capabilities, and decision-making approach).